{"id":2192,"date":"2019-12-29T14:10:24","date_gmt":"2019-12-29T14:10:24","guid":{"rendered":"http:\/\/tvtinvest.com\/?p=2192"},"modified":"2020-12-15T00:58:05","modified_gmt":"2020-12-15T00:58:05","slug":"cung-tim-hieu-ve-nha-dau-tu-lou-simpson-va-tu-duy-dau-tu","status":"publish","type":"post","link":"http:\/\/tvtinvest.com\/?p=2192","title":{"rendered":"C\u00d9NG T\u00ccM HI\u1ec2U V\u1ec0 NH\u00c0 \u0110\u1ea6U T\u01af LOU SIMPSON V\u00c0 T\u01af DUY \u0110\u1ea6U T\u01af"},"content":{"rendered":"

\"Screen<\/p>\n

Lou Simpson<\/em><\/strong>– sinh n\u0103m 1936, hi\u1ec7n l\u00e0 gi\u00e1m \u0111\u1ed1c \u0111i\u1ec1u h\u00e0nh b\u1ed9 ph\u1eadn v\u1ed1n \u0111\u1ea7u t\u01b0 c\u1ee7a GEICO, m\u1ed9t c\u00f4ng ty con \u0111\u01b0\u1ee3c Berkshire s\u1edf h\u1eefu to\u00e0n ph\u1ea7n. \u00d4ng c\u0169ng l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 d\u1ef1 ph\u00f2ng \u0111\u01b0\u1ee3c ch\u00ednh Warren Buffett l\u1ef1a ch\u1ecdn \u0111\u1ec3 thay th\u1ebf m\u00ecnh trong t\u01b0\u01a1ng lai.<\/span><\/p>\n

T\u1eeb n\u0103m 1980 \u0111\u1ebfn 1995, trong khi l\u1ee3i nhu\u1eadn k\u00e9p c\u1ee7a ch\u1ec9 s\u1ed1 S&P 500 \u0111\u1ea1t m\u1ee9c cao l\u00e0 15,7% th\u00ec th\u00e0nh t\u00edch c\u1ee7a Simpson t\u1ea1i GEICO c\u00f2n \u0111\u00e1ng ng\u01b0\u1ee1ng m\u1ed9 h\u01a1n v\u1edbi m\u1ee9c l\u1ee3i nhu\u1eadn 22,8%.\u00a0<\/strong>V\u00e0 h\u1ea7u h\u1ebft nh\u1eefng \u00fd t\u01b0\u1edfng \u0111\u1ea7u t\u01b0 th\u00e0nh c\u00f4ng tr\u00ean c\u1ee7a \u00f4ng \u0111\u1ec1u b\u1eaft ngu\u1ed3n t\u1eeb vi\u1ec7c \u2018\u0111\u1ecdc\u2019 c\u00e1c \u1ea5n ph\u1ea9m t\u00e0i ch\u00ednh v\u00e0 b\u00e1o c\u00e1o th\u01b0\u1eddng ni\u00ean c\u1ee7a t\u1ea5t c\u1ea3 c\u00e1c c\u00f4ng ty ni\u00eam y\u1ebft.<\/span><\/p>\n

B\u00ean c\u1ea1nh \u0111\u00f3, Buffett c\u00f2n r\u1ea5t ng\u01b0\u1ee1ng m\u1ed9 ba ph\u1ea9m ch\u1ea5t m\u00e0 \u0111\u01b0\u1ee3c \u00f4ng \u0111\u00e1nh gi\u00e1 r\u1ea5t cao t\u1eeb Lou Simpson. \u0110\u00f3 l\u00e0 tr\u00ed tu\u1ec7, t\u00ednh c\u00e1ch v\u00e0 kh\u00ed ch\u1ea5t. \u0110\u1eb7c bi\u1ec7t l\u00e0 kh\u00ed ch\u1ea5t c\u1ee7a Lou Simpson kh\u00f4ng kh\u00e1c nhi\u1ec1u l\u1eafm v\u1edbi Buffett. C\u1ea3 hai \u0111\u1ec1u c\u00f3 khuynh h\u01b0\u1edbng l\u00e0m vi\u1ec7c theo l\u00fd tr\u00ed v\u00e0 kh\u00f4ng bao gi\u1edd \u0111\u1ec3 cho y\u1ebfu t\u1ed1 c\u1ea3m x\u00fac can thi\u1ec7p v\u00e0o ho\u1ea1t \u0111\u1ed9ng c\u1ee7a tr\u00ed tu\u1ec7.<\/span><\/p>\n

Sau \u0111\u00e2y l\u00e0 nh\u1eefng nguy\u00ean t\u1eafc \u0111\u1ea7u t\u01b0 th\u00e0nh c\u00f4ng c\u1ee7a Lou Simpson<\/em>. \u00d4ng vi\u1ebft ch\u00fang ra v\u00e0 l\u1ea7n \u0111\u1ea7u ti\u00ean xu\u1ea5t b\u1ea3n nh\u1eefng tri\u1ebft l\u00fd \u0111\u1ea7u t\u01b0 v\u01b0\u1ee3t th\u1eddi gian c\u1ee7a m\u00ecnh trong b\u00e1o c\u00e1o th\u01b0\u1eddng ni\u00ean c\u1ee7a GEICO n\u0103m 1986 d\u00e0nh cho c\u00e1c c\u1ed5 \u0111\u00f4ng.<\/span><\/p>\n

1. Khuynh h\u01b0\u1edbng suy ngh\u0129 \u0111\u1ed9c l\u1eadp<\/strong><\/span><\/p>\n

\u0110\u1ec3 d\u1eabn ch\u1ee9ng cho vi\u1ec7c n\u00e0y, ch\u00fang ta n\u00ean nh\u1edb l\u1ea1i nh\u1eefng tr\u00ed tu\u1ec7 truy\u1ec1n th\u1ed1ng v\u00e0 c\u1ed1 g\u1eafng tr\u00e1nh nh\u1eefng l\u00e0n s\u00f3ng suy ngh\u0129\u00a0 theo ki\u1ec3u t\u1eadp th\u1ec3. B\u1eaft ngu\u1ed3n t\u1eeb h\u00e0nh vi v\u00e0 c\u1ea3m x\u00fac kh\u00f4ng logic th\u01b0\u1eddng th\u1ea5y \u1edf Ph\u1ed1 Wall.<\/span><\/p>\n

Gi\u00e1 tr\u1ecb c\u1ee7a m\u1ed9t danh m\u1ee5c \u0111\u1ea7u t\u01b0 c\u00f3 th\u1ec3 hi\u1ec3u t\u01b0\u01a1ng t\u1ef1 l\u00e0 \u201c\u0111\u01b0\u1ee3c \u0103n c\u1ea3, ng\u00e3 v\u1ec1 kh\u00f4ng\u201d<\/em>. N\u1ebfu b\u1ea1n \u0111\u00fang, b\u1ea1n s\u1ebd gia t\u0103ng gi\u00e1 tr\u1ecb c\u1ee7a danh m\u1ee5c l\u00ean r\u1ea5t nhi\u1ec1u. V\u00e0 khi mu\u1ed1n gia t\u0103ng gi\u00e1 tr\u1ecb, b\u1ea1n c\u1ea7n c\u00f3 c\u00e1i nh\u00ecn kh\u00e1c so v\u1edbi th\u1ecb tr\u01b0\u1eddng. \u0110i\u1ec1u \u0111\u00f3 c\u00f3 ngh\u0129a l\u00e0 b\u1ea1n ph\u1ea3i ch\u1ecdn s\u1ef1 t\u1eadp trung v\u00e0 \u0111\u1ed9c l\u1eadp<\/em><\/strong>.<\/span><\/p>\n

2. \u0110\u1ea7u t\u01b0 v\u00e0o nh\u1eefng doanh nghi\u1ec7p c\u00f3 t\u1ef7 su\u1ea5t l\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n cao<\/em> v\u00e0 \u0111\u01b0\u1ee3c \u0111i\u1ec1u h\u00e0nh v\u00ec l\u1ee3i \u00edch c\u1ed5 \u0111\u00f4ng.<\/strong><\/span><\/p>\n

Trong d\u00e0i h\u1ea1n, s\u1ef1 t\u0103ng gi\u00e1 c\u1ee7a c\u1ed5 phi\u1ebfu c\u00f3 m\u1ed1i quan h\u1ec7 m\u1eadt thi\u1ebft v\u1edbi thu nh\u1eadp m\u00e0 c\u00f4ng ty ki\u1ebfm \u0111\u01b0\u1ee3c nh\u1edd v\u00e0o kho\u1ea3n \u0111\u1ea7u t\u01b0 c\u1ee7a c\u00e1c c\u1ed5 \u0111\u00f4ng<\/em>. Do ban qu\u1ea3n l\u00fd \u1edf g\u1ea7n t\u00e0i s\u1ea3n c\u1ee7a c\u00f4ng ty h\u01a1n c\u1ed5 \u0111\u00f4ng n\u00ean m\u1ed9t kho\u1ea3n \u0111\u1ea7u t\u01b0 h\u1ea5p d\u1eabn s\u1ebd c\u00f3 li\u00ean h\u1ec7 tr\u1ee9c ti\u1ebfp v\u1edbi cung c\u00e1ch \u0111i\u1ec1u h\u00e0nh c\u1ee7a ng\u01b0\u1eddi qu\u1ea3n l\u00fd t\u00e0i s\u1ea3n thay cho c\u1ed5 \u0111\u00f4ng.<\/span><\/p>\n

V\u00ec th\u1ebf, n\u00ean \u0111\u1ea7u t\u01b0 v\u00e0o nh\u1eefng c\u00f4ng ty c\u00f3 t\u1ef7 su\u1ea5t l\u1ee3i nhu\u1eadn tr\u00ean v\u1ed1n cao v\u00e0 t\u00ecm nh\u00e0 qu\u1ea3n l\u00fd \u0111i\u1ec1u h\u00e0nh v\u00ec l\u1ee3i \u00edch c\u1ee7a c\u00f4 \u0111\u00f4ng.<\/em><\/strong><\/span><\/p>\n

3. Kh\u00f4ng tr\u1ea3 m\u1ee9c gi\u00e1 qu\u00e1 cao, k\u1ec3 c\u1ea3 c\u00e1c doanh nghi\u1ec7p t\u1ed1t<\/strong><\/span><\/p>\n

Ch\u00fang ta n\u00ean ki\u1ec3m so\u00e1t \u0111\u1ed1i v\u1edbi m\u1ee9c gi\u00e1 m\u00e0 b\u1ea1n ph\u1ea3i tr\u1ea3 \u0111\u1ec3 c\u00f3 th\u1ec3 s\u1edf h\u1eefu, ngay c\u1ea3 nh\u1eefng c\u00f4ng ty xu\u1ea5t s\u1eafc \u0111\u00e3 \u0111\u01b0\u1ee3c th\u1eed th\u00e1ch qua th\u1eddi gian. Th\u1eadm ch\u00ed c\u00f4ng ty t\u1ed1t nh\u1ea5t th\u1ebf gi\u1edbi c\u0169ng kh\u00f4ng ph\u1ea3i l\u00e0 m\u1ed9t c\u01a1 h\u1ed9i \u0111\u1ea7u t\u01b0 t\u1ed1t n\u1ebfu m\u1ee9c gi\u00e1 tr\u1ea3 cho c\u1ed5 ph\u1ea7n c\u1ee7a n\u00f3 qu\u00e1 cao.<\/em><\/strong><\/span><\/p>\n

4. \u0110\u1ea7u t\u01b0 d\u00e0i h\u1ea1n<\/strong><\/span><\/p>\n

C\u1ed1 g\u1eafng \u0111o\u00e1n nh\u1eefng thay \u0111\u1ed5i ng\u1eafn h\u1ea1n \u1edf c\u00e1c c\u1ed5 phi\u1ebfu ri\u00eang l\u1ebb trong th\u1ecb tr\u01b0\u1eddng ch\u1ee9ng kho\u00e1n ho\u1eb7c \u1edf n\u1ec1n kinh t\u1ebf th\u00ec kh\u00f4ng th\u1ebf n\u00e0o \u0111\u1ea1t \u0111\u01b0\u1ee3c nh\u1eefng k\u1ebft qu\u1ea3 t\u1ed1t \u0111\u1ec1u \u0111\u1eb7n. Nh\u1eefng m\u1ee9c t\u0103ng gi\u1ea3m c\u1ee7a gi\u00e1 c\u1ed5 phi\u1ebfu l\u00e0 kh\u00f4ng th\u1ec3 bi\u1ebft \u0111\u01b0\u1ee3c trong ng\u1eafn h\u1ea1n.<\/em><\/strong><\/span><\/p>\n

Tr\u00e1i l\u1ea1i, s\u1edf h\u1eefu c\u1ed5 phi\u1ebfu c\u1ee7a nh\u1eefng c\u00f4ng ty ch\u1ea5t l\u01b0\u1ee3ng \u0111\u01b0\u1ee3c \u0111i\u1ec1u h\u00e0nh v\u00ec l\u1ee3i \u00edch c\u1ed5 \u0111\u00f4ng c\u00f3 th\u1ec3 mang l\u1ea1i m\u1ed9t c\u01a1 h\u1ed9i tuy\u1ec7t v\u1eddi \u0111\u1ec3 c\u00f3 \u0111\u01b0\u1ee3c kho\u1ea3n thu nh\u1eadp \u0111\u00e1ng mong \u0111\u1ee3i cho nh\u00e0 \u0111\u1ea7u t\u01b0 trong d\u00e0i h\u1ea1n.<\/span><\/p>\n

Th\u00eam v\u00e0o \u0111\u00f3, vi\u1ec7c mua b\u00e1n c\u1ed5 phi\u1ebfu th\u01b0\u1eddng xuy\u00ean s\u1ebd c\u00f3 hai \u0111i\u1ec3m b\u1ea5t l\u1ee3i c\u01a1 b\u1ea3n v\u00e0 n\u00f3 s\u1ebd tri\u1ec7t ti\u00eau h\u1ebft k\u1ebft qu\u1ea3 l\u00e0 chi ph\u00ed giao d\u1ecbch v\u00e0 thu\u1ebf<\/em>. L\u1ee3i nhu\u1eadn s\u1ebd t\u0103ng nhanh h\u01a1n n\u1ebfu thu nh\u1eadp t\u00edch l\u0169y \u00edt b\u1ecb ng\u1eaft qu\u00e3ng v\u00ec ph\u00ed hoa h\u1ed3ng v\u00e0 thu\u1ebf.<\/em><\/strong> V\u00e0 \u0111\u00f3 c\u0169ng l\u00e0 c\u00f4ng c\u1ee5 \u00a0l\u00e0m gi\u00e0u c\u1ee7a Warren Buffett \u2013 l\u1ee3i nhu\u1eadn k\u00e9p.<\/span><\/p>\n

5. Kh\u00f4ng \u0111a d\u1ea1ng h\u00f3a<\/strong><\/span><\/p>\n

Nh\u00e0 \u0111\u1ea7u t\u01b0 kh\u00f3 c\u00f3 th\u1ec3 \u0111\u1ea1t \u0111\u01b0\u1ee3c nh\u1eefng k\u1ebft qu\u1ea3 xu\u1ea5t s\u1eafc b\u1eb1ng c\u00e1ch mua qu\u00e1 nhi\u1ec1u c\u1ed5 phi\u1ec1u tr\u00ean th\u1ecb tr\u01b0\u1eddng<\/em><\/strong>. Quy m\u00f4 \u0111a d\u1ea1ng c\u00e0ng l\u1edbn, x\u00e1c su\u1ea5t c\u00f3 \u0111\u01b0\u1ee3c hi\u1ec7u qu\u1ea3 nh\u01b0 m\u1ee9c trung b\u00ecnh c\u00e0ng cao.<\/span><\/p>\n

N\u1ebfu ch\u00fang ta c\u00f3 th\u1ec3 t\u00ecm \u0111\u01b0\u1ee3c 15 v\u1ecb tr\u00ed m\u00e0 ch\u00fang ta th\u1ef1c s\u1ef1 t\u1ef1 tin, th\u00ec ch\u00fang ta s\u1ebd x\u00f4ng v\u00e0o 15 v\u1ecb tr\u00ed \u0111\u00f3. Ch\u00fang ta s\u1ebd kh\u00f4ng bao gi\u1edd chi\u1ebfm \u0111\u1ebfn 100 v\u1ecb tr\u00ed b\u1edfi v\u00ec b\u1ea1n s\u1ebd kh\u00f4ng bao gi\u1edd bi\u1ebft h\u1ebft 100 c\u00f4ng ty m\u1ed9t c\u00e1ch k\u1ef9 l\u01b0\u1ee1ng.<\/span><\/p>\n

V\u00ec th\u1ebf, nh\u1eefng \u00fd t\u01b0\u1edfng \u0111\u1ea7u t\u01b0 t\u1ed1t \u2013 nh\u1eefng c\u00f4ng ty xu\u1ea5t s\u1eafc \u0111\u00e1p \u1ee9ng \u0111\u01b0\u1ee3c c\u00e1c ti\u00eau ch\u00ed kh\u1eaft khe \u2013 th\u1eadt kh\u00f3 \u0111\u1ec3 t\u00ecm th\u1ea5y.<\/em><\/strong> Khi b\u1ea1n ngh\u0129 \u0111\u00e3 t\u00ecm \u0111\u01b0\u1ee3c m\u1ed9t c\u00f4ng ty nh\u01b0 th\u1ebf, \u0111i\u1ec1u \u0111\u1ea7u ti\u00ean c\u1ea7n l\u00e0m l\u00e0 t\u1ecf ra d\u0169ng c\u1ea3m \u0111\u1ec3 t\u1eadp trung v\u1ed1n v\u00e0o n\u00f3.<\/em><\/span><\/p>\n

S\u01afU T\u1ea6M<\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

Lou Simpson– sinh n\u0103m 1936, hi\u1ec7n l\u00e0 gi\u00e1m \u0111\u1ed1c \u0111i\u1ec1u h\u00e0nh b\u1ed9 ph\u1eadn v\u1ed1n \u0111\u1ea7u t\u01b0 c\u1ee7a GEICO, m\u1ed9t c\u00f4ng ty con \u0111\u01b0\u1ee3c Berkshire s\u1edf h\u1eefu to\u00e0n ph\u1ea7n. \u00d4ng c\u0169ng l\u00e0 nh\u00e0 \u0111\u1ea7u t\u01b0 d\u1ef1 ph\u00f2ng \u0111\u01b0\u1ee3c ch\u00ednh Warren Buffett l\u1ef1a ch\u1ecdn \u0111\u1ec3 thay th\u1ebf m\u00ecnh trong t\u01b0\u01a1ng lai. T\u1eeb n\u0103m 1980 \u0111\u1ebfn 1995, trong khi l\u1ee3i nhu\u1eadn k\u00e9p c\u1ee7a […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[31],"tags":[],"_links":{"self":[{"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/2192"}],"collection":[{"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2192"}],"version-history":[{"count":6,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/2192\/revisions"}],"predecessor-version":[{"id":3290,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=\/wp\/v2\/posts\/2192\/revisions\/3290"}],"wp:attachment":[{"href":"http:\/\/tvtinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2192"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/tvtinvest.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}